A Brief History
Gambling is indistinguishably associated with the roots of humanity. Games of chance were discovered in ancient China on tiles. Playing cards appeared in the 9th century in China. These cards bear some resemblance to the cards of the current era.
Old cards were decorated with human forms, Queens and Kings. Over time, gambling became more regulated and organized. The first gambling houses or casinos were originated in the 17th century in Italy. In 1638, the Ridotto provided a controlled environment for gambling in Venice. In the 19th century, casinos hit mainland Europe.
Nowadays, numerous platforms are available for online gambling. Situs poker is a popular platform to play exciting games. Online gambling was started in 1994 when Barbuda and Antigua passed the Free Trade and Processing Act. This act allowed organizations to obtain licenses for their online casinos.
Microgaming developed the first functional software before the introduction of online gambling. It was an Isle of Man-based company to develop software. They used CryptoLogic for the security of their software and online company. In this first casino, safe transactions become feasible.
After the establishment of the Gaming Commission Kahnawake in 1996, online gaming activities were regulated from the Kahnawake Mohawk Territory. The territory issued several gaming licenses to poker rooms and online casinos. Through this attempt, they maintain transparency in the operations of online gambling businesses.
In 1999, another act the Internet Gambling Prohibition was introduced. This act stated that a company is not liable to offer online gambling products to the citizens of the United States. This act could not pass, and another law “Multiplayer gambling online” was introduced in the same year.
Playtech was the first live dealer for casino in 2003. They introduced a hybrid of the virtual world and brick & mortar casinos.
With the advancement of technology, new generation became more inclined toward handheld devices. To recognize their gaming needs, top gambling websites introduce mobile online gambling. Nowadays, players prefer to use their mobile devices.
Mobile gambling enables them to access online gambling games and betting options through their mobile platforms. Websites operators understand the growing interaction between the gaming and social network. For this reason, they are developing special mobile apps to increase their profit.
Disruption in the Gambling Industry
Cryptocurrencies and blockchain technology is disrupting the gambling industry. Casinos are widely accepting cryptocurrencies for gambling. They have introduced a fiat-based payment system.
Blockchain is famous for providing transaction transparency and decrease the house edge. With the use of digital currency, it is possible to reduce the cost of transactions. Users are happy with the use of blockchain because they can gamble anonymously.
Nowadays, it is becoming easy for everyone to become an active member of gaming clubs or casinos with the help of blockchain technology. You can fund a bitcoin casino and get profit according to their share.
Crypto platforms, including Ethereum, have taken these concepts to another level. Casinos can create a particular system for their token holders to receive dividends automatically from the profit of these platforms.
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For more information, please see…
Durham, Steve and Kathryn Hashimoto Ph.D. The History of Gambling in America. Pearson, 2019.
The featured image in this article, an image by kalhh, is licensed under the Pixabay License.